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      Insurance and Investment: How Are They Different?

      Sunday, November 29th, 2015 Amritesh one response

      Personal Finance may sound very simple but in reality it is not the case. As many of you will admit that taking an Investment or an Insurance related decision is always very difficult. One should take decision based on his/her future capital requirements and security coverage needs. Individuals should not succumb to the schemes promoted or marketed by the Insurance/Investment Advisors who in their bid to sell their respective financial product may manipulate facts.Individuals should be very careful while taking a financial decision and have a close look at the features, benefits, riders before putting in their hard earned money.Investment and Insurance are two terms which is often interchangeably used, but in reality they are not similar and denote two…

      Return Of Premium (ROP) Term Insurance Plans

      Sunday, September 27th, 2015 Amritesh no responses

      Return of Premium (ROP) scheme is a kind of Term Insurance plan which have features similar to Pure Insurance plan but with additional benefits. Term Insurance Plans do not have any maturity value and benefits are only payable in case of death of the insured. Whereas, in ROP plans the policyholder is not only covered for after death benefits as per the policy, but also on surviving the policy tenure is guaranteed to receive the entire premium amount paid by him/her towards the policy.Insurers have designed the plan keeping in mind the Individuals who are still inclined towards the Traditional (Endowment) Plans which offer maturity benefits/value if the policyholder survives the tenure of the policy. However, ROP plans are much…

      Unit Linked Insurance Plans (ULIP): An Insight

      Saturday, August 1st, 2015 Amritesh 2 responses

      Unit Linked Insurance Plans are Life Insurance Products which imbibe Insurance cum Investment option in a single Plan. Unit Linked Insurance plans tries to provide better return on Investment to the Policy Holders by investing a portion of the premium in Equity Markets and Debt Markets. In these kinds of Policies a portion of the premium is utilized to provide Insurance Cover while the rest is vested in Equity and Debt Schemes. The pool of funds is managed by the Fund Managers who have the expertise to handle and mobilize the funds. The management of Funds is similar to the way it is done in Mutual Funds. Individuals have the choice to allocate funds in Debt/Equity Schemes or in the…

      Edelweiss Tokio Life: MyLife+ (Term Insurance Plan)

      Thursday, July 9th, 2015 Amritesh no responses

      In my earlier posts I have covered about the Features and Benefits of Term Insurance Plans. In this post I will cover one of the Term Insurance Plan provided by Edelweiss Tokio Life. You can read more about the Term Insurance plans in the link provided below:-Term Insurance Plan: An InsightEdelweiss Tokio Lifehas launched MYLIFE+plan which is a Term Insurance policy for Individuals who want to secure the future of their loved ones. It will provide them with adequate financial cover in an unfortunate turn of events resulting in death of an Individual (Insured). From the Investmentperspective too Term Insurance is a must have in your Portfolio.MYLIFE+is one of the cheapest Term Insurance Plans available in the market, offering attractive…

      Money Back Insurance Policies: An Overview

      Sunday, July 5th, 2015 Amritesh no responses

      Money Back Insurance Policies are a type of Endowment Plans. However, in Money Back Policy, a certain percentage of Sum Assured is returned to the Insured after a specific interval of time. The portion of money paid back to the Insured is known as Survival Benefit. The tenure of Money Back Policies generally ranges from 15- 25 years. Survival Benefit is paid to the insured in an interval of 3-5 years. The sum is generally 15%-20% of the Sum Assured. The remaining portion of the Sum Assured is paid at the time of maturity with accrued bonus and loyalty additions. If the policy holder dies while being covered under the policy then the nominee is paid the entire Sum Assured…

      Endowment Insurance Plans: An Insight

      Sunday, June 28th, 2015 Amritesh one response

      Endowment Insurance Policies are classical Insurance policies which combine Savings cum Insurance benefits. This type of Insurance policies are for fixed tenure of 10,15,20 years or more. The premium on these policies is relatively higher as compared to Term Insurance Policies. The premium can be paid on one time lumpsum basis or periodically (ie, Monthly,Annually,Quarterly,etc).Endowment Policies are Life Insurance Policies which payout a lumpsum on completion of the policy term or on death of the policy holder. Generally, Endowment Policies are available in two categories, namely, Endowment Policies with Profits (Traditional) and Market Linked Endowment Policies (A certain percentage of Investment is vested in Equities and Money Market.)Endowment Policies have a maturity value. Individuals who wish to terminate the policy…

      Term Insurance Plans: An Insight

      Sunday, June 7th, 2015 Amritesh no responses

      Term Insurance Plans are Pure Insurance Policies which provide insurance coverage against periodic payment of premiums for a fixed tenure of time. Term Insurance policies are available at very affordable rates. Since it is a pure insurance policy you don’t have any maturity value on completion of the tenure. Term Insurance Policy is a must for Individuals irrespective of whether they are employed or into business. It provides financial security to your family in case of any tragic event takes place in your life. As the Premium on these types of policies are very low individuals can go for higher coverage thereby providing their loved ones with better financial security.Term Policies are offered by Public Sector Undertakings (PSU’s) as well…

      Pradhan Mantri Suraksha Bima Yojana (PMSBY)

      Thursday, May 28th, 2015 Amritesh one response

      In the Budget Speech of 2015-16, Our Hon’able Finance Minister Shri Arun Jaitley announced few schemes which would address the social security and welfare issues. The most notable being Pradhan Mantri Jeevan Jyoti Bima Yojana (Term Insurance), Pradhan Mantri Suraksha Bima Yojana (Accident Insurance) and Atal Pension Yojana (APY). It is a big step towards getting the majority of Individuals insured so that they can enjoy some kind of financial security in the future.  Click on this Link to Read about Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJB)Click to Read About Atal Pension Yojana (Retirement Plan)In this post I will discuss about the Pradhan Mantri Suraksha Bima Yojana (Accident Insurance) for Individuals at a very affordable rate and should be…

      Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJB)

      Sunday, May 24th, 2015 Amritesh no responses

      In India, a large proportion of the population still does not avail any kind of insurance cover which may compensate the dependents/family members in case of any tragic turn of events (death/illness/accident) of an individual.Thus to boost the Social Welfare and Security System few schemes were announced by our Hon’able Finance Minister, Mr. Arun Jaitley during his Budget 2015-16 speech. The schemes included Pradhan Mantri Jeevan Jyoti Bima Yojana (Term Insurance), Pradhan Mantri Suraksha Bima Yojana (Accident Insurance) and Atal Pension Yojana (APY). These schemes aim to provide social protection to the individuals so that they can reduce their financial burden to a certain extent and sustain themselves.In this post I will discuss some of the salient features about the…

      Accident Insurance Policy

      Sunday, April 12th, 2015 Amritesh no responses

      Accident Insurance Policy is another form of Health Insurance Policy which insures incase of Accidental Death and Dismemberment of the insured. The Policy benefits are paid to the beneficiary in case of death due to accident. Benefits are also provided according to terms and conditions of the policy in case of Total/Partial Disablement suffered in an accident by an insured individual. The Accident Insurance Policy is offered by Non Life Insurance Companies and is regulated as per the norms set by Insurance Regulatory Authority of India (IRDA).The Accident Insurance coverage is available from Rs 1,00,000/- to anything in Crores. The premium on these types of policy is very nominal and is pretty affordable. The minimum age of the proposer of…